AGP Executive Report
Last update: 41 minutes agoMinimum Wage Rise: Australia’s Fair Work Commission has confirmed a 4.75% jump in the national minimum wage from 1 July 2026, lifting it to $1004.90 per week (or $26.44 per hour), with extra protection for the lowest-paid award workers. Banking Access: Millicent is losing more face-to-face banking, with ANZ cutting trading to three days a week from mid-June, as branches keep shrinking across regional towns. Data Centres & AI Power: IREN shares surged after announcing an 800MW data centre campus in South Australia, targeting initial energisation in 2028 and citing strong AI infrastructure demand plus renewable power and submarine fibre links. Market & Economy Watch: Australia’s economy slowed to 0.3% growth in Q1, with cyclone disruptions hitting exports and net trade dragging on GDP. Superannuation/Investments: M&G expanded in Australia with a new head of institutional distribution role, aiming to deepen ties with local pension and institutional capital pools. Corporate Restructuring: Nova Minerals cleared the final court hurdle to shift to a new US-based holding structure, with ASX trading set to cease today and implementation scheduled for mid-June. BBL Governance: NSW, SA and Queensland have requested a meeting with Cricket Australia over Cricket Victoria’s planned merger of Melbourne Stars and Renegades and the sale of a second BBL licence, with the ACA warning of “confusion” ahead of privatisation.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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